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The two A-listers have been fairly open about their marriage since tying the knot 23 years ago, having previously admitted that they have not always been monogamous.
Speaking to Good Morning America, Smith, 53, defended their set-up by saying he and wife Jada were simply after the same love that others are.
Interviewer TJ Holmes asked the star why he thinks everyone is so 'fascinated' by his relationship, to which Smith responded: "We are pursuing the kind of love that everybody dreams about. And we just know that the road [doesn't] look like everybody think[s] it's supposed to look.
"But, you know... Don't try this at home, children!"
Smith admitted that he wasn't exactly qualified to solicit advice on love, saying: "I don't feel like I'm necessarily equipped yet to give relationship advice."
Laughing, he added: "Next book, for sure!"
For a long time, fans have speculated that the two were in an open relationship after Pinkett Smith, 50, revealed she'd had a prior sexual relationship with singer August Alsina.
In a recent interview on Apple TV+'s A Conversation With Oprah, Smith said they'd even had an unofficial separation.
He explained: "Ya know, it's really funny. We never actually like, officially separated."
Smith told the story about the lowest point in their marriage which happened on Jada's 40th birthday in September 2011.
He had spent three years planning an incredible birthday surprise for his wife, but Pinkett Smith hated the entire thing.
The actor also admitted to having an affair, saying: "We realised that it was a fantasy illusion that we could make each other happy.
"We agreed that she had to make herself happy and I had to make myself happy.
"Then we were going to present ourselves back to the relationship already happy, versus demanding that the other person fill our empty cup."
Smith said things were slightly more 'contentious' at that point, having told his wife to 'go figure out if you can be happy and prove to me it's even possible', adding: "I'm gonna do me and you do you."
He also said the pair 'talk about everything', saying: "I think the difficulty that people have and difficulty in discussing it is people only think in terms of sex."